Philippines show double digit growth on purchases of fuel products

According to data from the Philippine National Statistics Office (NSO), Philippine merchandise imports in September grew by double digits on higher purchases of fuel products. Imports increased by 11.7% in September to US$5.134 billion, from US$4.597 billion in the same period last year. On a month-on-month basis, imports rose by 4.3% from US$4.925 billion in August. During the first nine months of 2011, imports grew by 13.5% to US$45.56 billion, from US$40.124 billion in the same period last year. (November 28, 2011)